- Regulatory Impact Assessment
- Regulatory Impact Analysis
Links: https://youtu.be/vaRNpIneges https://youtu.be/WWKvHPvhvy4 https://youtu.be/wFmsCG-8GGw https://youtu.be/_2KvFQ3r5bE
There is discretion for departments and regulators as to how to set out the evidence base. However, it is desirable that the following points are covered:
Problem under consideration;
Rationale for intervention;
Description of options considered (including status-quo);
Monetised and non-monetised costs and benefits of each option (including administrative burden);
Rationale and evidence that justify the level of analysis used in the IA (proportionality approach);
Risks and assumptions;
Direct costs and benefits to business calculations (following BIT methodology);
Wider impacts (consider the impacts of your proposals). Document any relevant impact here and by attaching any relevant specific impact analysis (e.g. impact on small and micro businesses, equalities, etc.) in the annexes to this template)
A brief qualitative summary of the potential trade implications of measure. This should include an assessment of whether the measure is likely to impact on trade or investment. For further assistance and guidance please refer to DIT.
Summary and preferred option with description of implementation plan.